American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Israel's StoreDot is making major headway in its bid to charge up devices in a matter of minutes with new battery technology.
The Herzliya-based start-up's lithium-ion battery on Tuesday managed to recharge an electric scooter from Spanish firm Torrot in just five minutes.
It completed the demonstration alongside oil major BP, a strategic backer of the company. The companies claim this is the first time an electric two-wheeler has been charged in such a short amount of time.
"What we are demonstrating with the scooter is the capability of the technology," Doron Myersdorf, StoreDot's CEO, told CNBC in an interview Tuesday.
Myersdorf added it's the first time the company has showed off five-minute charging with a battery pack containing so many cells — this one contains 168 in total.
In addition to BP, StoreDot also counts Mercedes owner Daimler and tech giant Samsung as investors. It previously attracted headlines with its cell phone battery which, again, boasts five-minute charging.
"We are developing a new generation of lithium-ion batteries," said Myersdorf. "More specifically, we are eliminating the use of graphite in the battery."
The company's chief explained that the reason behind taking graphite out of the equation is that the mineral doesn't work as well at charging devices quickly.
Instead, the firm is using materials like tin, germanium and silicon in combination with organic compounds that it claims are a better solution for lithium-ion batteries than the cells used in most consumer electronics currently.
StoreDot finds itself in a heated race with a multitude of companies looking to address the problem of slow recharging times for electric vehicles.
Porsche recently unveiled an electric car that can add 60 miles of range from a four-minute charge, while start-ups including Sila Nanotechnologies and QuantumScape are also trying to shake up the battery market.
StoreDot's latest demo is the "first step" toward eventually charging electric cars and even trucks at super-fast speeds, Myersdorf said. It's looking to demo five-minute charging with Mercedes cars in a year's time.
The firm expects five-minute smartphone and power bank charging to be available in the second half of 2020, while fast charging for electric cars likely won't come onto the market until 2023, StoreDot's boss said.
It's also looking to set up a battery-making plant similar to Tesla's Gigafactory, called OneGiga. Myserdorf said StoreDot is currently in talks with U.S. authorities to work out an ideal location for the facility.
Companies like BP and Daimler have had to wake up to the slow-burning shift toward electrification, as global pressure to prioritize clean energy over fossil fuels ramps up amid concerns over climate change.
"Electric vehicles will play a major role in the future of road transport, and that's why BP is investing in technology and infrastructure," said Jon Salked, technology director at BP's advanced mobility unit.
"Electrification presents exciting opportunities for businesses like BP and we see possibilities to expand and complement our business offerings."